In November this year, China’s HRC production lost 1.9 percent month on month and came to 11.924 million mt, seeing an 8.9 percent increase compared to the same month last year. Average local HRC prices in China rose by 5.61 percent or RMB 200/mt ($28.6/mt) over the month, according to the SteelOrbis data. The monthly pace of decline was much lower than 7.7 percent seen in October.
In the January-November period, Chinese HRC production amounted to 136.963 million mt, 10.1 percent higher year on year, with the growth remaining unchanged compared to that in January-October.
At the same time, CRC production gained 7.1 percent month on month to 2.954 million mt in November. Auto production increased by 3.8 percent year on year in November and rose by 13 percent month on month, exerting a positive impact on CRC output.
In the January-November period, Chinese CRC production totaled 30.136 million mt, up 2.4 percent year on year, with this increase rate being 0.1 percentage points lower than that recorded in the January-October period.